Why Entrepreneurs Should Pay Top Dollar for Marketing
People seem to have gotten the idea that businesses should pay for services based on the amount of income that the company has. When it comes to marketing, that is a ridiculous idea. Sure, a smalltime marketing firm may try to charge a bigger business more if they think they can get away with it, but in reality a new startup will require more work on the part of product branding strategies. Here are a few reasons why.
Your brand is still in its infancy. That means the message that your brand is trying to get out is still being tweaked. Startups often require a great deal of trial and error. That is on the part of the owner and not the marketing team. Everytime the boss decides to try something new with this startup, the marketing staff has to adjust campaigns on the fly to keep up.
Your brand is starting at the ground level. Branding takes time and effort. When you first start out, it takes a lot more time and effort than once a brand is established. When you watch a Coke commercial, you may often think, “They could [insert your idea here]. That would work great!” Now try to come up with great marketing material for a company no one knows, trusts, or has dealt with yet. That is an entirely different beast.
Your situation is more desperate. Whether you are starting off with your own money or you took out a loan, most people can’t afford to have their startup crash and burn. That results in entrepreneurs putting a ton of pressure on their marketing agency, sometimes more than a corporate giant with tons of liquid assets would. If a marketing firm messes up a campaign for a Fortune 500 company, they lose one of their best accounts. If they mess up your advertising campaign, your business may go belly up.
All of this having been said, I love working with new businesses and helping them get their feet under them. Just remember not to complain about the bill. Know that your marketing campaign is often tougher and results in more stress than the ones we put together for our biggest clients. Ultimately, that is because we want you to succeed.